|
Trading Day Prep Work
Dow mini trading results - 04/17/2009
Tax week pretty much ended with a nap as the Dow failed to gain any steam in either
direction and closed under the daily crunchy at 8,112. The NYSE A-D started the day
off in range territory and spent the morning there until drifting higher over lunch. The
market made a few attempts to get moving to the upside but it kept stalling out just
shy of the 8,142 crunchy. The pace and volume were pretty bad and between the
great weather across the Midwest, options expiration and an afternoon Cubs game it
was no surprise.
I had three trades on the day and they were standard system signals. The first was
the first signal after the break of a box I had drawn on the 25x early in the day. The
second one was after the test of the swings that broke on the way to breaking the
box. It was on a smaller tic chart that I don't normally trade but I was working with
someone at the time and just decided to take it also. Not being too familiar with what
is normal in terms of swing extensions on that time frame I exited as the trade
started moving my way. The last trade was the first signal off the 25x MC in the final
hour. That one looked kind of iffy to me because it had made that lower low prior to
the trade but it had the best initial impulse that I saw for the afternoon and was right
around my favorite time of day to trade so I thought it was worth a shot.
I was ready for the weekend by the time today started so now that its done I am
looking forward to the rest. Hopefully next week we will break this upper level
consolidation and get moving with a bit more kick to it. I look forward to working with
you all in the room next week. Be sure to take advantage of our time there and ask for
help. In my experience some of the best kind of questions you can be asking are
about what is happening right now and how to make a read on the market at the
present moment. Thanks again for all your email feedback. I am glad to hear most of
you are doing well and picking things up over time.
(Here is the prior Post).
Results: 3 Trades Date: 04/17/2009 Gross Points This Week: 112 YM
|
|
